Latest in Tag: CBE Highlight
Latest in Tag: CBE
Programme to transfer profits of foreign companies operating in Egypt abroad promotes confidence in economy
CBE coordinates with international institutions to export share of production, experts demand raising competitiveness of Egyptian economy, currency reform
Amer reveals CBE’s monetary policy
New policy aimed at reducing inflation and financing growth through a more flexible exchange rate policy
Dollar deposits jump 2130% following pound devaluation: Amer
Depreciating the pound is a corrective measure in response to currency market mismanagement, says Farid
CBE, international institutions begin assessing AAIB, Banque du Caire in preparation for IPO
Timing, price, and promotion are important factors for a successful launch on the EGX, says financial analyst
Are CBE’s initiatives enough to develop SMEs?
Daily News Egypt speaks to experts on how to support and develop this sector
Economists deem plan to attract $30bn in FDI by 2030 a ‘difficult venture’
Serious institutional, administrative, and legislative reform required to raise foreign investment, entrance to operation, growth, says economic expert
CBE reduces term of executive officials in banks to 9 years
The Central Bank of Egypt (CBE) issued on Thursday a decree to limit the tenure of executive officials in banks to nine years, whether consecutive or accumulative. The decree, of which a copy was obtained by Daily News Egypt, revealed that the decision does include executive officials in banks who have completed nine years in …
CBE provides banks with $104.5m, sets US dollar price at EGP 8.78
On Tuesday, the official dollar price in banks was EGP 8.83 for purchasing and EGP 8.88 for selling
Members of ICT, industry look to CBE initiative for growth
Members of both the industrial and commercial sector and the information and communications technology (ICT) sector expect the CBE’s initiative to positively impact their fields
Will CBE’s initiative solve funding concerns for IT companies?
Egyptian banks, however, are seeking to make their loans more competitive with other funding sources to increase their funding share
Metropolitan Consulting supports CBE’s initiative for financing SMEs
Nagaty said the company’s goal behind this step is to contribute to supporting the expansion of already existing SMEs, or establishing new companies
CBE considers launching initiative to support micro-enterprises
Intensive meetings held with ministries, authorities responsible for financing micro-enterprises to finalise initiative
Offering United Bank for sale still pending: chairman
CBE, other parties still studying issue of sale, we have not received instructions so far, says El-Kady
Bankers expect interest rates on savings instruments in pounds to rise
The Monetary Policy Committee of the CBE decided to raise deposit and lending rates at the Egyptian central bank by 1.5%, brining the rate to 10.75% for deposits and 11.75% for lending
Prices of food items ‘increased’, minister promises control
Food prices will not increase following dollar rise, Hanafy says
CBE’s SME funding initiative met with doubt
The initiative conflicts with other government lending initiatives because of its low interest rate
Basic interest rate raised by 1.5%
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided during its meeting Thursday to raise the basic interest rate by 1.5% on deposits and loans. The decision will increase the overnight rate to is 10.75% and the loan rate to 11.75%. The MPC also increased the deposit and discount rate by …
Moody’s praises CBE pound devaluation
Flexible exchange rate can offset some major challenges, Moody’s says
JP Morgan expects further EGP devaluation, IMF loan deal
The US firm expects higher interest rates
CBE sells $1.5bn to cover portion of temporary credit facilities to importers
Banks are required to redeposit amounts obtained in the CBE auction with a 1.23% yield over one year
The difficult question of the dollar crisis
Many have raised questions about the reason behind the dollar crisis. Fortunately, financial analyst Nady Azzam explained the details behind this issue in an article on his page, which I quote here: The state’s dollar resources at the end of 2015 amounted to $58m, divided as follows: $22bn from exports $18bn in remittances from Egyptians …
The automotive sector’s shaky road
The Egyptian automotive market can be described in three terms: “suffered, suffering and will suffer”. All the associated parties in the automotive market, including manufacturers, agents and dealers, are familiar with this situation. Those words reflect the internal state of fear, anxiety and confusion that hovers on the horizon. Nobody knows what awaits tomorrow. None …
In Cartoon: It is only up to CBE !
Is the CBE the only player to blame for the dollar crisis?
In a recent press conference, prominent economist and chief economic adviser at Allianz Mohamed Al-Arian warned that the country is risking over-dependence on the CBE to make the country’s monetary decisions.
CBE to hold exceptional $1.5bn auction
CBE sold $200m to banks operating in the local market at rate of EGP 8.85 per dollar, through an exceptional tender, to cover the demand of food commodities importers
Next fiscal year’s budget returned to government by parliament after partial floating of pound
Finance Ministry targets a deficit of 10.5% for the next fiscal year, compared to a target of 8.9% for this year; CBE’s decision will aggravate the deficit to 11.5%
CBE devalues EGP amid concerns over inflation and budget deficit increase
The decision is expected to have far-reaching repercussions on the deficit and inflation of the state budget
Pound devaluation shakes market
EGX-30 jumps by 6.7%, amid renewed hopes for FDIs and major concerns over inflation and budget deficit
US dollar declines to EGP 9 in informal market
Banks await fresh dollar liquidity to be injected through exceptional CBE auction
Foreign deposits, withdrawals balance out at banks on Wednesday, Thursday
Approximately $8m exited one of the largest banks following CBE decision to cancel cap on foreign currency withdrawals and deposits